Spain Golden Visa: Residency by Investment

The Golden Visa is only available to citizens of countries outside the European Union, European Economic Area, and Switzerland. EU/EEA/Swiss nationals already have free movement rights in Spain. Your eligibility is determined by the passport you use for the application, not your country of residence.

Eligible investments include: real estate worth at least 500,000 EUR, Spanish government bonds worth at least 2,000,000 EUR, shares in Spanish companies or bank deposits worth at least 1,000,000 EUR, or a business project deemed to be of general interest (creating jobs, advancing innovation, or contributing significant economic impact). Real estate is the most popular option, and multiple properties can be combined to reach the threshold.

The Spanish Golden Visa grants residency with no minimum stay requirement for the first 2 years. You can live, work, and study in Spain. The permit allows visa-free travel throughout the Schengen Area for up to 90 days in any 180-day period. Unlike Portugal, Spain has no mandatory minimum days of physical presence for renewals, though you must maintain the investment.

For real estate, the property must be worth at least 500,000 EUR (the portion above 500,000 EUR can be financed with a mortgage, but the first 500,000 EUR must be mortgage-free). The purchase must be completed and registered at the Land Registry. For financial investments, the funds must be deposited in a Spanish bank or invested through a Spanish financial institution. Engage a Spanish lawyer to verify compliance with Golden Visa requirements.

The NIE (Numero de Identidad de Extranjero) is required for all financial and legal transactions in Spain. Apply at a Spanish consulate in your home country or at a National Police station in Spain. Required documents include your passport, a completed EX-15 form, and proof of the reason for the application (such as a property purchase agreement). Processing takes 1-3 weeks at consulates or same-day in Spain.

A Spanish bank account is necessary for the investment transaction and ongoing financial management. Major banks include CaixaBank, Santander, BBVA, and Sabadell. Opening requires your passport, NIE, proof of address, and proof of income or wealth source. Anti-money-laundering regulations require detailed documentation of the source of funds. Some banks offer dedicated services for Golden Visa investors.

Required documents include your passport (valid for at least 1 year), criminal background certificate from your home country and any country where you lived in the past 5 years, health insurance from a provider authorized in Spain, proof of investment, proof of sufficient financial means beyond the investment, and a medical certificate. All documents must be apostilled and translated into Spanish by a sworn translator (traductor jurado).

If applying from outside Spain, submit the application at the Spanish consulate in your country of residence. The application form is the national visa application. Include all supporting documents, proof of investment, and the application fee (approximately 80 EUR). Processing takes 10-20 business days. If you are already legally in Spain, you can apply directly at the UGE (Unidad de Grandes Empresas) office.

If approved from outside Spain, you receive a 1-year investor visa in your passport allowing entry and residence. This visa grants the right to live and work in Spain. Enter Spain within the visa validity period. Within 1 month of arriving, apply for the investor residence card (Tarjeta de Identidad de Extranjero, TIE) at the local immigration office (Oficina de Extranjeria). The TIE card costs approximately 15-20 EUR.

Before the 1-year visa expires, apply for a 2-year residence authorization at the UGE office in Madrid or through the immigration office in your province. You must demonstrate you have maintained the qualifying investment and continue to meet requirements. The renewal fee is approximately 200 EUR. The 2-year residence permit is issued as a TIE card and grants the same work and residence rights.

The residence permit is renewed every 2 years as long as you maintain the qualifying investment. There is no minimum physical presence requirement for renewals, but you should visit Spain at least once during each permit period. Apply for renewal 60 days before the permit expires. If you sell the qualifying property, the residence permit is not renewed. You can change investments as long as the new investment meets the threshold.

After 5 continuous years of legal residence, apply for long-term residence (residencia de larga duracion). This removes the investment maintenance obligation and grants indefinite residence rights. You must have been physically present in Spain for at least 4 years and 2 months out of the 5 years (absences must not exceed 6 consecutive months). Basic Spanish language knowledge is assessed.

Spanish citizenship requires 10 years of legal residence (reduced to 2 years for citizens of Latin American countries, Philippines, Equatorial Guinea, and Andorra, and 1 year for those married to a Spanish citizen). Requirements include passing the CCSE (constitutional and sociocultural knowledge) exam and the DELE A2 Spanish language exam. Spanish citizenship grants an EU passport. Dual citizenship is only allowed for citizens of certain countries. This guide is informational only, not legal advice.